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Should we fear this country?

Summary:
By 2027, they will have a bit more than 1.4 billion people. Their economy is growing at 6%/year. They are becoming increasingly nationalistic and increasingly authoritarian. They have put more than a million Muslims into concentration camps, for no good reason. They have nuclear weapons, and occasionally threaten their neighbor with militaristic rhetoric. Should we fear this country? If so, how should we respond? Tags:

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By 2027, they will have a bit more than 1.4 billion people. Their economy is growing at 6%/year. They are becoming increasingly nationalistic and increasingly authoritarian. They have put more than a million Muslims into concentration camps, for no good reason. They have nuclear weapons, and occasionally threaten their neighbor with militaristic rhetoric.

Should we fear this country? If so, how should we respond?


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Scott Sumner
Scott B. Sumner is Research Fellow at the Independent Institute, the Director of the Program on Monetary Policy at the Mercatus Center at George Mason University and an economist who teaches at Bentley University in Waltham, Massachusetts. His economics blog, The Money Illusion, popularized the idea of nominal GDP targeting, which says that the Fed should target nominal GDP—i.e., real GDP growth plus the rate of inflation—to better "induce the correct level of business investment".

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